Monetization Strategies for Publishers
By Rok Hrastnik http://rss.marketingstudies.net
With the growing popularity of podcasting, publishers
and marketers around the world are asking themselves how to monetize
this content channel and make delivering audio content via RSS profitable.
Today, let's take a look at how publishers can expect
to generate podcasting revenues both directly and indirectly - by
combining monetization through ad sales and content sales with using
podcasting as a marketing vehicle itself.
1. STARTING WITH AD SALES AND CONTENT SALES
a] Smaller market players with small mid-value listenership,
reaching mostly general audiences, might find their profits come
through podcasting-oriented ad networks or perhaps even content
networks providing access to multiple podcasts for a small subscription
b] Large players reaching the masses or small players
reaching high-value niche audiences will surely be able to sell
their ad venues via their own sales forces or specialized media
planning/buying agencies, perhaps even via large traditional ad
agencies. And according to a case study done by MarketingSherpa,
GoToMeeting actually found that podcasting sponsorships have done
very well in their integrated ad campaigns, with overwhelming responses.
c] These same publishers might also get away with
subscription sales, provided they can offer unique content not easily
available elsewhere. It however remains to be seen whether listeners
will be prepared to pay for podcast access.
As noted by InformationWeek, a recent European young
consumers study by Forrester Research found that 46% of 16- and
17-year-olds would consider paying for podcast content, while only
33% of those surveyed would accept advertising in podcasts. It's
clear that people will always be willing to pay for unique high
quality content. But are young consumers among those willing to
pay? History shows that regardless of what anyone says, most consumers
still preferr advertising over having to pay for content.
d] Other publishers, especially independant or smaller
publishers using direct marketing tactics to facilitate sales, might
generate revenues by providing podcasts in combination with their
other products --> selling packaged access or offering podcasts
as bonuses upon purchase. But, let's not also forget that podcating
itself can serve as a marketing channel, giving publishers many
additional marketign opportunities ...
2. PODCASTING AS A MARKETING CHANNEL
a] PR: Audio press releases, messages from company
executives, expert interviews and other industry related material,
all delivered directly to the media.
b] Direct marketing: Sales letters and other ad creative,
delivered in audio and directly to your prospects.
c] Customer Relationship Management and User Support:
Personal messages and greetings from company executives, persoanlized
messages to key clients by key account managers, educational content
and industry interviews, seminar or conference recordings, product
support information and tutorials, ...
d] Promotion: Achieving additional company/brand/product
exposure by providing podcasts and promoting them via podcast directories
and search engines.
e] E-commerce: Audio product announcements and presentations,
delivered to prospects that opt-in to receive latest product information.
In the case of audio products, podcasts can also carry short excerpts
or previews of new editions, thus enticing prospects to order.
f] Branding and Prospect Conversion: Educational content
and industry interviews that help shorten the sales cycle or generate/improve
company credibility and enhance its brand.
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